Agreed, but we were talking about the Market Analysis, there are lots and lots of thing that are needed to trade with the Forex Market, But the stool of the Market Analysis depends on the Three legs and hence not the fourth leg required, but you aren't wrong, is that it is another kind of leg of another stool.

Forex trading is about possibility and not certainty, market condition always dynamic and no anyone will know exactly where is movement trend ahead as trader indeed need skill and not only relying with lucky, like as drive car on crowd street you need skill and not only luck

ok, I used to play chess with people who were serious about itand i know a Chess Grandmaster (now, i'm not saying that i am even remotely close to his level) but the point is..let's objectively question what you said

FIRSTWhy is Chess SkillWhy is SLOTS luck

I CAN ALSO ARGUE THE POINT THAT.......in chess (if you believe in Luck) Even a grandmaster can have a stroke of luck hehe

conversely , i can argue (and being an I.T. engineer, I KNOW I'M RIGHT, THERE IS NO DEBATE HERE) On occasion i fix slow machines.

i can argue that slot machines ARE PROGRAMMED TO BE IN FAVOUR OF THE HOUSEit's not even a debateI can show you the programme hehe

so.. that's MYTHBUSTED right there

but even though i agree CHESS IS SKILLi also CONFIRM Slots is not luck

because IF IT WAS..... a Club would RELY ON LUCK to make continual profitnow... THAT WOULD MEAN THAT LUCK WOULD NEED TO BE CONTINUAL FOR THEM

HOW CAN THAT BE ?well. it's not the case, simple as that

a Person does not invest millions of dollars to open a Registered club with Gaming machinesand when it comes time to drafting the business modelthey say LET'S RELY ON LUCK AND HOPE FOR THE BEST LOL....... not a chance at all

it's all predetermined

here is another way to look atI own a space invaders machine ( i got it some months back)it's in need of some repair, but, i'll fix it

now. here is what i realized when i started playing with this BLACK AND WHITE Classic (Cocktail Table) space invaders machinewhen you look inside there are Potentiometers (to the lamen, this means.... little knobs)now these POTS as we call them in electronics,they control THE SPEED OF THE ALIENSTHE SPEED OF MY SHIPTHE SPEED AT WHICH MY BULLETS FIRETHE SPEED AT WHICH THE ALIENS DROP THEIR BULLETS

heheit now becomes clear to me that back in the day when i was in timezone dropping in 20cents at a time per game.THE GAMES WERE RIGGED hehe

there was no luck involvedit's a business.

SO WHAT IS LUCK ?

When something happens, just because a certain number of events coincide.and the likelihood of said event is VERY UNLIKELYand for the most part, because people don't put in the effort to try and explain it

Hence, let's say , when some UNEXPLAINABLE HAPPENS (well, it actually can be explained but people don't bother trying)

PEOPLE CALL THIS LUCK

if this inexplicable event happens to cause happiness to the person (Like finding $100 on the ground)a person instantly assumes it's GOOD LUCK

if this inexplicable event happens to cause sadness to the person it's called BAD LUCK

now. let's look at it like this

You are walking down the street, the wind blows and a $100 bill hits your shoeyou pick it up and SAY..... "WOW. THIS IS GOOD LUCK"

nowdifferent same scenarioyou are walking down the street, wind blows, $100 bill hits your shoe, you pick it up.BUT A POLICE OFFICER DRIVING BUY SEE'S YOU PICKING IT UP and Arrest's you for stealing

is it still good luck or Bad Luck

see. LUCK DOESN'T EXISTLUCK IS AN EXCUSE THAT PEOPLE USE WHEN THEY EITHER CAN'T OR DON'T WANT TO EXPLAIN SOMETHING

is there luck in forexhehe

well. do you think that the market makers and brokers are just luckyand that 95%+ traders are just unlucky

No... it's rigged.. simple as thatTRADING IS A SKILL

how is it that i've been trading for 7 yearsand in the first say 2 -3 years i was losing, couldn't find a way to get ahead.... IS THAT BAD LUCK ?

and now... (i do lose trades on occasion ) but i win the majority of them

IS THAT GOOD LUCK ?Did my luck somehow change ? HEHE i think not

i think what happened was, i learned how to trade by gaining knowledge

does luck exist in forex... NOT FOR A SECOND, NOT A CHANCE

you make a decision in forex and your broker acts accordingly

also here's another head ache for you

if there was luckHOW WOULD YOU PROGRAMME A TRADING BOT TO ACCOUNT FOR LUCK heheyou can't

Forex market is a risky, decentralized market. Here, no one can survive for a long time without proper knowledge and skills. Yes, without it you may sometimes win just by your luck, by it will not be true for long time. So i will strongly recommend that every trader should have at least basic knowledge and skills before entering into the forex market.

I like your advice because no one can successful without knowledge . Luck is not any reliable thing . You have to know market practice here to get skill in trading. Unless you not work hard never can become a profitable trader. There is no competition of luck and skill. Skill is always valuable , due to skill you make good trading.

You can be blessed with luck in one, or a couple of times but not all the times. You genuinely need to fathom what you're doing. It's the knowledge and skills that finally pays off. If you do consistent work in right way, you will get accomplishment.

You can be blessed with luck in one, or a couple of times but not all the times.

Hi James, i'm not saying this to argue, i'm just saying it to offer another point of view.Now here are the questions i would raise on this comment

BLESSED..... By Who ? God perhaps.if so then we need to ask, - would god approve of this to give his blessing- does god exist to begin with and even if he did, he probably wouldn't give his blessing on forex.

Now. Moving forward, let's say you were TRULY BLESSEDso.. Not Lucky, but BLESSED WITH LUCKok... so why then would you not be lucky all the time ?

My point here is, You can't say someone CAN BE BLESSED WITH LUCK but yet only have luck sometimesthat's like saying a person is a blessed runner and yet only wins a race here and there... that's not right.

Ultimately , i don't agree that luck exists, and overall i agree with your comment that if we are going to discuss luck as a real thing, well then. i agree, i doesn't happen all the time

My point merely was, i think this sentence that you wrote is really wrong and i just wanted to point it out IN A NICE WAY .. OF COURSE hehe Be Cool Merry Xmas

Actually , there is nobody who can predict the real faction of this market with certainly in spite of having good knowledge and experience , that’s why sometimes of course we the traders have to depend on our luck but maturely not at random.

Luck is not the only factor to depend on, you need to learn about the Forex Market and also you need have proper practice to ensure your success in the same. Luck wouldn't ensure your success alone, you should also have skills to become successful.

I got your point exactly, but still I am not agreeing with you. I know the volatile nature of this market place , yes it is quite difficult to survive when market move at random but if we depend on luck in that time of course we could fall a great loss.

Yeah, I totally get your point and I agree to you that sometimes, we need to depend on luck. But if we gain some good amount of knowledge, we could predict it maximum number of time. Experiences makes our trading quite better and it helps us to reduce our dependence of Luck.

Exactly, our good knowledge and experience always helps not to depend on luck mostly times . but sometime market moves at random and we can’t predict something , in that time there is no way to trade without depending on luck.

Skill versus luck, of course still better skill, lucky in forex trading is number second but skill is very important which this is included the trader already having good knowledge and also experience, relying with lucky will never stand for long time